Investment Board, presided by the Prime Minister, ordered Development Bank of Ethiopia (DBE) to modify its lending policy in favor of foreign horticulture investors. From now on the bank, as per the board’s decision, will exempt foreign horticulture investors from the 50 percent deposit requirement other foreign investors have to fulfill.
The long serving president of Development Bank of Ethiopia (DBE), Esayas Bahre, is dismissed from his post effective of November 18, 2016.
Development Bank of Ethiopia (DBE) called off its low interest rate loan. The loan scheme was given for exporters and investors engaged in import substitution. Even if most banks in Ethiopia give loans at a rate of 12 percent, DBE’s low interest rate loan was served with 9 and 8 percent.
Development Bank of Ethiopia (DBE) plans to extend more than 2 billion Birr as loan for large-scale agriculture investments. The loan is expected to be disbursed until end of June.
Development Bank of Ethiopia (DBE) has planned to lend 9.4 billion Birr to graduates from technological and vocational training institutions and to enterprises set to transfer to medium industries in the coming five years.
